SpankPay Merchant Feature — Choose Your Own Holding Currency
When talking with our original SpankPay merchant partners, one of the features they wanted to see added was the ability to choose a single currency to hold all of their payments regardless of which currency their customer uses to pay. So, instead of carrying multiple balances in various volatile (or non-volatile) currencies they could just pick one and let it ride. With this release we’ve added this feature for all merchants.
Simply go into your Settings and change your Holding Currency from the drop-down menu.
Merchants will have the ability to choose from the original Payment Currency, BTC, ETH, or BOOTY (pegged to $1 USD). Please note that just like anyone else, merchants will be subject to the inherent volatility of Bitcoin and Ether, but if they choose BOOTY, their funds will remain stable from the time of purchase. We hope that this gives our merchants the ability to set a risk profile they’re comfortable with.
If a merchant chooses not to select a specific currency (default = Payment Currency), then their balances will be held in whatever currency their customer has chosen to pay with (BTC, ETH, LTC, USDC, etc…), and the merchant will be able to withdraw each crypto balance separately.
SpankPay has two completely different types of merchants. The first HATE crypto and want to safely hold all earnings in USD, and the second LOVE crypto and want to YOLO their earnings into BTC & ETH. As of today, we cater to both! MONEY!
—Ameen Soleimani, SpankChain founder and CEO
Merchants can sign up for SpankPay here!
If you find this feature useful, or would like to request a new feature, let us know!
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